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  1. Questions and Answers on MiFID II and MiFIR investor protection and intermediaries topics (ESMA35-43-349) (updated 15 December 2023)
  2. 3 Recording of telephone conversations and electronic communications [Last update: 3 October 2017]
  3. Question 7 Recording of telephone conversations and electronic communications: critical or important operational function [Last update: 10 October 2016]
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Version date: 10 October 2016 - onwards

Question 7 Recording of telephone conversations and electronic communications: critical or important operational function [Last update: 10 October 2016]

Art. 16(7) of MiFID II

Is the recording of telephone conversations and electronic communications a critical or important operational function for the purposes of the outsourcing rules?

Answer 7

Firms may use third-party recording services to meet the new requirement to record telephone conversations and electronic communication. However, ESMA considers that, for the purposes of the outsourcing rules, taping will be considered a critical or important operational function.

Comparing proposed amendment...
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